Geron Corp. HALTS Trial and 4 Hot Stocks Attracting Attention
Geron Corporation (NASDAQ:GERN): On Monday, the company stated that it stopped a mid-stage trial of imetelstat as a breast cancer treatment because women treated with the drug were not doing as well as those who were treated with only a standard chemotherapy drug. The company stated that women who were treated with imetelstat and paclitaxel showed a shorter time to death or disease progression than patients receiving only paclitaxel. Additionally, Geron claimed that it will complete a mid-stage trial of imetelstat as a treatment for non-small cell lung cancer, but it does not believe that the drug will meet the goals of the study and does not intend to move imetelstat into late-stage testing as a treatment for that type of cancer.
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UniFirst Corp (NYSE:UNF) is to report its Fiscal 2012 Q4 results on October 17, 2012 prior to the market’s opening. The Company is to hold a conference call at 10:00 a.m. Eastern Time on October 17, 2012 for the discussion of its quarterly financial results, business highlights, and outlook. Also, the Company could answer one or more questions in regards to business and financial developments and trends, the Company’s view on earnings forecasts along with other business and financial matters that affect the Company, some of the responses which could contain information not been previously revealed.
Palo Alto Networks Inc (NYSE:PANW) sees its Q1 revenue totaling $80 million to $84 million, consensus $80 million, and this guidance was issued last night on the company’s conference call.
American International Group, Inc. (NYSE:AIG) announced that the U.S. Department of the Treasury has priced an offering of about 553.8 million shares of its AIG common stock at an initial public offering price of $32.50 per share. Treasury granted a 30-day option to the underwriters for the offering for the purchase of up to an approximately 83.1 million more shares to cover over-allotments, if any. Along with Treasury’s offering, AIG has agreed to buy about 153.8 million shares of AIG common stock in the offering at the initial public offering price for an aggregate purchase amount of approximately $5 billion. Currently, treasury owns nearly 53.4 percent of AIG’s common stock outstanding. Assuming completion of this offering and a $5 billion share repurchase at the initial public offering price of $32.50 per share, Treasury would own nearly 21.5 percent of AIG’s common stock then outstanding, approximately 15.9 percent if the over-allotment option is exercised in full.
Piedmont Natural Gas Company Inc. (NYSE:PNY) reported a revenue totalling $161.1 million. The three analysts polled by S&P Capital IQ wished to see a top line of $189.8 million on the same basis. GAAP reported that sales had dropped 18 percent lower than the previous year quarter’s $197.3 million.
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